This brief assesses the performance of New York State's Regional Economic Development Councils over the past four years and offers recommendations for further improving data collected on projects and on the economic performance of the regions.

The legislative package passed in Albany last week rejected some misguided and expensive proposals, including a tax credit for benefactors of private schools. Unfortunately, other expensive proposals were included, adding to current and future state expenses without providing offsetting savings or revenues.

The resolution (albeit short term for some) of several issues of great importance to New York - 421a, rent regulation, the property tax cap, and mayoral control of schools - is welcome news. However, the last minute addition of large spending commitments is fiscally troubling.

Since 2011 New York leaders have restrained growth in the state’s operating budget; in contrast, the scale and scope of questionable economic development programs continue to be expanded significantly. In 2014 state and local spending for these activities totaled $8 billion.

The fiscal year 2016 state budget enacted last week includes a 6.0 percent increase in annual formula-based aid to school districts from $21.8 billion to $23.1 billion. This is the third consecutive year in which the Governor and the legislature have busted the statutory growth cap they agreed upon in 2011.

New York State's trial with design-build has produced convincing results that merit permanently authorizing and extending design-build authority as a first key step in modernizing the State’s approach to public projects.

Governor Andrew Cuomo’s Executive Budget for FY2016 proposes to borrow an additional $1.8 billion from public employee pension funds in coming years. This proposal adds to taxpayers’ long-run costs and risks weakening the fiscal condition of the funds.

The fiscal year 2016 Executive Budget worthwhile proposals that should not be overlooked in the wake of the Assembly leadership crisis. Nonetheless, some misguided elements should be eliminated or modified.